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United States and Armenia Sign Trade and Investment Framework Agreement

05/07/2015

Washington, D.C. – Assistant United States Trade Representative for Europe and the Middle East L. Daniel Mullaney and Armenian Minister of Foreign Affairs Edward Nalbandian today signed the Trade and Investment Framework Agreement between the Government of the United States of America and the Government of the Republic of Armenia. This agreement establishes a United States-Armenia Council on Trade and Investment to discuss bilateral trade and investment and related issues and examine ways to strengthen the trade and investment relationship between the two countries.

“Today’s agreement provides a vehicle for deepening and broadening U.S.-Armenia trade and investment relations," said Mullaney. “I look forward to the United States-Armenia Council on Trade and Investment helping to unlock opportunities for workers, farmers, service providers, manufacturers and consumers in our two countries.”

Total two-way trade (exports plus imports) between the United States and Armenia totaled $153 million in 2014. U.S. goods exports to Armenia in 2014 totaled $56 million and included poultry, machinery, vehicles, and optic and medical equipment. Total U.S. foreign direct investment in Armenia was $1 million in 2013. U.S. goods imports from Armenia in 2014 totaled $96 million in 2014 and included aluminum, woven apparel, brandy, diamonds, and processed fruit and vegetables. Total Armenian foreign direct investment in the United States was $1 million in 2013.